Jeddah, KSA, 07.4.2015 – The President of the Republic of Azerbaijan, HE Ilham Aliyev, on Monday received Chairman of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, at the Conference Palace in Jeddah, Saudi Arabia.

HE President Aliyev appreciated IDB Group’s role in promoting socio-economic development in Azerbaijan since the country joined the IDB in 1992 and highlighted the importance of supporting his country’s 5- year development plan (2014-2018) which is under implementation since last year. The development plan focuses on sustainable development and diversifying the economy, upgrading roads network, improving power grid, and developing the agriculture sector in Azerbaijan.

HE President Aliyev extended an invitation to the IDB Group Chairman to visit Azerbaijan expressing his country’s willingness to further strengthen the ongoing cooperation with the IDB Group.
The amount of IDB Group financing for Azerbaijan has so far reached US $ 1.7 billion for major infrastructural development projects in the sectors of roads, energy, agriculture, water supplies, as well as financing private sector and foreign trade operations aimed at increasing the volume of intra- trade amongst IDB Group member countries.